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. >> fiscal cliff. >> fiscal cliff. >> fiscal cliff. >> fiscal cliff. >> but why doesn't the market care? let's find out right now. >>> live from the nasdaq market site in new york city's time square, i'm melissa lee. here are tonight's top three trades. solving the apple mystery. want to know what's behind apple's troubles this week? we here at "fast" have gotten to the bottom of the selloff. we'll tell you what it means. plus, freeport fizzles. the fine print on why the company's two big buys are raising big red flags. >>> and nat gas revolution, the government says exporting nat gas could be a game changer for america's economy, but at what cost? we'll take a deeper dive to find some answers. but first, our top story tonight. >>> everyone cares about the fiscal cliff, except, seemingly, the markets. just 25 days until the year end deadline and still no deal out of washington. still stocks quietly climb higher. the dow closing today at a one-month high. what gives? just an assumption that a deal -- >> it almost gets back to that you never short. we're all waiting for some type of closu
. >> fiscal cliff. >> fiscal cliff. >> fiscal cliff. >> fiscal cliff. >> but why doesn't the market care? let's find out right now. >>> live from the nasdaq market site in new york city's time square, i'm melissa lee. here are tonight's top three trades. solving the apple mystery. want to know what's behind apple's troubles this week? we here at "fast" have gotten to the bottom of the selloff. we'll tell you what it means. plus, freeport fizzles....
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president obama saying now a deal to avoid the so-called fiscal cliff could be about a week away. there is just one catch. he says republicans have to accept the, quote: reality as he puts it that tax rates are going up for the richest americans. something g.o.p. leaders are calling a deal breaker. >> we're not insisting on rates just out of spite or out of any kind of partisan bickering. but rather because we need to raise a certain amount of revenue. we can probably solve this. it's not that tough. but we need that conceptual break through that says we need to do a balanced plan. >> we made a good faith offer to avert the fiscal crisis and that offer included significant spending cuts reforms and it included additional revenue. and frankly, it was a balanced approach mr. president has been asking for. now we need a response from the white house. >> they have 27 days to prevent automatic tax hikes and spending cuts from kicking in on new year's day. ed henry live at the white house for us. ed, we are hearing the president and house speaker john boehner actually talked by phone no
president obama saying now a deal to avoid the so-called fiscal cliff could be about a week away. there is just one catch. he says republicans have to accept the, quote: reality as he puts it that tax rates are going up for the richest americans. something g.o.p. leaders are calling a deal breaker. >> we're not insisting on rates just out of spite or out of any kind of partisan bickering. but rather because we need to raise a certain amount of revenue. we can probably solve this. it's not...
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we are going back to the looming fiscal cliff. that's what florida senator marco rubio is talking about. >> he discusses the negotiations on capitol hill and the raising taxes. >> my parents worked in the service industry we were able to afford a house. we always had what we needed thank god and thank this country. that's only possible in the future if we have limited government and enter prides. people come here from all over the world to get away from big government. i hope multiple voices out there making the argument. it is the only way forward for us. we will never be able to raise enough taxes to get out of the situation we are in. the only way forward is rapid economic growth. not new taxes we need new taxpayers. >> rubio sa>> what a difference few days can make. we had gorgeous weather a few days ago. it will be really wintery outside today. >> somebody in the hallway this morning was why is it so cold out, dean? it is december. we had a treat with warmer than average temperatures than most. winter out there in new york ci
we are going back to the looming fiscal cliff. that's what florida senator marco rubio is talking about. >> he discusses the negotiations on capitol hill and the raising taxes. >> my parents worked in the service industry we were able to afford a house. we always had what we needed thank god and thank this country. that's only possible in the future if we have limited government and enter prides. people come here from all over the world to get away from big government. i hope...
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talk about that do you know the fiscal cliff. do you think a lot of americans do so then why is the media talking about it incessantly well so good there i i guess i'm not as informed as i should be but i just kind of figure it might work out do you think most people feel that way you know you think most people are worried i think they are and i think that if i ignored it all go away do you think calling it something like the fiscal cliff minimizes it yes and no i definitely agree that it's a complex problem i don't think it simplifies it though i think it adds an element of panic or fear looming. doom that and the media loves that yeah do you think there's actually something to worry about or do you think it's something the politicians and the media used to distract us from what's really going on politics and media for sure so what's really going on that they're distracting us from. their own personal agendas people fall into a trip when it comes to reelecting. people that don't do their job. which is all of them you know in a w
talk about that do you know the fiscal cliff. do you think a lot of americans do so then why is the media talking about it incessantly well so good there i i guess i'm not as informed as i should be but i just kind of figure it might work out do you think most people feel that way you know you think most people are worried i think they are and i think that if i ignored it all go away do you think calling it something like the fiscal cliff minimizes it yes and no i definitely agree that it's a...
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Dec 5, 2012
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>> well, just look at speaker boehner's fiscal cliff proposal. three-page letter with three simple bullet points. that's the entire proposal to deal with the fiscal cliff and starts out with the sentence that's remarkable, tamron. first sentence is because the election is a status quo, both sides have to compromise. they didn't see what happened. they just dismissed it as a status quo election and this is not just speaker boehner we eric cantor and paul ryan, kevin mccarthy. the entire house republican leadership signed on to the so-called fiscal cliff proposal letter. they're not serious about negotiating. i don't know the right wing and the tea party of who the republican party is nowadays but it's impossible to have a deal with one side refuses to compromise even after losing. they will not accept their own defeat. >> right. >> and that is the problem. >> a.b. let's play what congressman walter jones had to say on this boehner purge. i have the full screen of what he had to say when several members were removed as identified not being team pla
>> well, just look at speaker boehner's fiscal cliff proposal. three-page letter with three simple bullet points. that's the entire proposal to deal with the fiscal cliff and starts out with the sentence that's remarkable, tamron. first sentence is because the election is a status quo, both sides have to compromise. they didn't see what happened. they just dismissed it as a status quo election and this is not just speaker boehner we eric cantor and paul ryan, kevin mccarthy. the entire...
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the week center on a big worry. >> this fiscal cliff. >> fiscal cliff. >> fiscal cliff. >> we could actually go off the fiscal cliff. >> we're facing a fiscal grand canyon. >> okay. so it's a big deal. question is can these guys strike a deal? >> i've got to repeat. i've got a pen. >> meantime, damage control for u.n. ambassador susan rice out to smooth things over with this week with republicans after those benghazi talking point. >> exextremist elements came to the consulate as this was unfolding. >> it didn't work. now their talking points. >> we are significantly troubled. >> i want to say that i'm more troubled today. >> democrats shot back. >> they are not only blaming her for this intelligence report, they are trying to blame her for the actual tragic event. >> i've seen so much crazy stuff in this house could i write a book. >> or make an internet video. >> not be a true god-fearing person and be on a television show like that. >> that's actor angus t. jones, the "two and a half men" star caught slamming his own tv show. >> if you watch "two and a half men," please don't watch "two a
the week center on a big worry. >> this fiscal cliff. >> fiscal cliff. >> fiscal cliff. >> we could actually go off the fiscal cliff. >> we're facing a fiscal grand canyon. >> okay. so it's a big deal. question is can these guys strike a deal? >> i've got to repeat. i've got a pen. >> meantime, damage control for u.n. ambassador susan rice out to smooth things over with this week with republicans after those benghazi talking point. >>...
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. >>> we'll turn now to if fiscal cliff, 30 days from an economy-crippling deadline. yet talks seem to be going nowhere. treasury secretary timothy geithner will be the guest on "this week" with george stephanopoulos. >> last weekend, you sat right here and you said you were reasonably optimistic that a deal could be afoot. in the intervening week, lot of trash-talking from both sides, can we still be somewhat hopeful? >> this week was a rough week in these negotiations. treasury secretary geithner when he went up to capitol hill, mitch mcconnell laughed when they got the offer from geithner. house speaker boehner said that the talks are at a stalemate. democrats said they're not going to make another move until republicans say they're going to go for an increase in tax rates. so, this is stalemate right now. now, these things always look horrible when they come together. more and more voices say, this is going to go over the fiscal cliff at least for a few days in january. >> if we go over the fiscal cliff, voters will likely blame the republicans for that. is is tha
. >>> we'll turn now to if fiscal cliff, 30 days from an economy-crippling deadline. yet talks seem to be going nowhere. treasury secretary timothy geithner will be the guest on "this week" with george stephanopoulos. >> last weekend, you sat right here and you said you were reasonably optimistic that a deal could be afoot. in the intervening week, lot of trash-talking from both sides, can we still be somewhat hopeful? >> this week was a rough week in these...
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you have washington elite chanting fiscal cliff, fiscal cliff, hoping to convince republicans to do something stupid because the alternative would be going off the fiscal cliff. it is and of people, the very people trying to bully us now. all you have to say is let's break it into 12, 15 foothills, no cliffs. now one by one, solve each of the smaller problem we get to some solutions. you don't have to panic over this i want to confess something. what i outlined for you, i copied from tip o'neil. when he was faced with ronald reagan in 1981, he knew he couldn't beat him in head-to-head negotiating but thought he could preserve the democratic party and welfare state in a long battle of attrition. o'neil who had a ran senate, republican president, used the power of house over and over again to slow the momentum. i think republicans got to understand they are not going to get any good deal from barack obama. he has contempt for them. he shows that on a regular basis. he's a hard-line left winger. they've got to think through the american people have chosen him he's going to be our presi
you have washington elite chanting fiscal cliff, fiscal cliff, hoping to convince republicans to do something stupid because the alternative would be going off the fiscal cliff. it is and of people, the very people trying to bully us now. all you have to say is let's break it into 12, 15 foothills, no cliffs. now one by one, solve each of the smaller problem we get to some solutions. you don't have to panic over this i want to confess something. what i outlined for you, i copied from tip...
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who will blink first on the fiscal cliff? not the obama administration as timothy geithner told cnbc, bring it on. >> is the administration prepared to go over the fiscal cliff? >> absolutely. again, there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. >> taxpayers might think that's easy for geithner to say. what about all those middle class families whose tax will go up more than $2,000 if, as geithner suggests, we take a dive off that cliff? even though president obama and john boehner chatted on the phone, there's still no deal. republicans are not amused. >> incredibly, many top democrats, including the president, seem perfectly happy. perfectly happy to go off the cliff. that's why the president has been more interested in campaign rallies than actually negotiating a deal. >> many americans don't have much hope the two side also come up with a deal. they've moved on already to plan b. the retired teacher in utah has put off plans to get a new car. brian chandler,
who will blink first on the fiscal cliff? not the obama administration as timothy geithner told cnbc, bring it on. >> is the administration prepared to go over the fiscal cliff? >> absolutely. again, there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. >> taxpayers might think that's easy for geithner to say. what about all those middle class families whose tax will go up more than $2,000 if, as geithner suggests, we...
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keep in mind again, you know, people call it a fiscal cliff. when you go off a cliff you usually die. my view is there are challenges in front of us. we've had them before. this is pretty significant. but we have a plan in place. no one really likes it, but at the end of the day come january, these things start to happen. the deficit gets a reduction because the tax cuts go away, the budget cuts go into play. the question is are we going to have the wherewithal to give some long-term certainty to the market so they don't have this up and down action of congress. after four years in congress i have to tell you it's one of the most disturbing thing i've seen, the lack of foresite of looking two, three, four, five years down the road. everyone plays to the next week. give it about a 40% chance of some element. the big question is have the markets worked into some of their pricing on stocks and bonds and so forth, some of this anticipation of going over these fiscal challenges? i think they probably have to to a certain degree. but it will be a rou
keep in mind again, you know, people call it a fiscal cliff. when you go off a cliff you usually die. my view is there are challenges in front of us. we've had them before. this is pretty significant. but we have a plan in place. no one really likes it, but at the end of the day come january, these things start to happen. the deficit gets a reduction because the tax cuts go away, the budget cuts go into play. the question is are we going to have the wherewithal to give some long-term certainty...
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no one know was the consequences will really be if we go over that fiscal cliff. we know that the tax hikes go up. some estimates -- ben bernanke, the fed chairman, fears that it will throw the country into a recession. that would hurt the whole country, of course president obama as well. they have to be careful here as well. but democrats and the president clearly believe that they have the leverage to force an increase in these tax rates on the upper income americans before they agree to a deal. >> we'll all be watching the stock market as well. if that indeed happen. >>> the president is also concentrating on recasting his new cabinet and one name that came up yesterday is a replacement for leon panetta at the defense department. actually a republican, chuck hagel. former senator from nebraska. >> it's possible, but this is a real game of musical chairs right now. the president has to fill at least three big jobs, secretary of state, hillary clinton, defense and cia. and if the president does not choose susan rice that means john kerry goes to state and hagel g
no one know was the consequences will really be if we go over that fiscal cliff. we know that the tax hikes go up. some estimates -- ben bernanke, the fed chairman, fears that it will throw the country into a recession. that would hurt the whole country, of course president obama as well. they have to be careful here as well. but democrats and the president clearly believe that they have the leverage to force an increase in these tax rates on the upper income americans before they agree to a...
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this fiscal cliff is the result of the last fiscal cliff. >> bill: that put a date on there. >> yeah. >> bill: may extend the date that's what i think is going to happen. >> my hope is is that we can avoid the bad stuff. then we have to deal with the 16 trillion-dollar debt that $1 trillion a year in deficit spending. we have to solve that. that thing is not going to solve itself. >> bill: doesn't feel like the president feels the urgency that you feel. you are one of the leaders of the republican party whether you want to be or not. there you are. so you find yourself now trying to get the republican party reorganized and back into the populist column. ain't going to be easy for you, senator. because you have got to be the senator from florida and at the same time try to resurrect this party. >> well, it's -- but i think the people of florida have the same ax sights as the people of our country. i'm informed by my own background and my own experience in life my parents worked in the service industry. and, yet, they were able to afford to buy a house they never gave us everything we w
this fiscal cliff is the result of the last fiscal cliff. >> bill: that put a date on there. >> yeah. >> bill: may extend the date that's what i think is going to happen. >> my hope is is that we can avoid the bad stuff. then we have to deal with the 16 trillion-dollar debt that $1 trillion a year in deficit spending. we have to solve that. that thing is not going to solve itself. >> bill: doesn't feel like the president feels the urgency that you feel. you are one...
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the fiscal cliff. guess what, the white house rejected it, calling the gop proposal unbalanced and not serious. translation? no tax hikes on the wealthy so democrats said forget about it. we thought you should take a look. it totals $2.2 trillion in deficit reduction over ten years. the part that stood out to us was $600 billion in proposed savings in medicare reforms. how? in part by raising the age of eligibility to 65 to maybe 67. turning down the gop proposal, dan pfieffer said, quote, it provides no details on which deductions they would eliminate, which loopholes they will close or which medicare savings they would achieve." let's head now to the white house and dan lothian. the white house will not offer a counter proposal, right? what's going on here? >> reporter: well, you know, i think the white house is digging in. the president said early on in this process that he would only sit down and really move forward, negotiate on this in any meaningful way if the tax hikes for the wealthy expired.
the fiscal cliff. guess what, the white house rejected it, calling the gop proposal unbalanced and not serious. translation? no tax hikes on the wealthy so democrats said forget about it. we thought you should take a look. it totals $2.2 trillion in deficit reduction over ten years. the part that stood out to us was $600 billion in proposed savings in medicare reforms. how? in part by raising the age of eligibility to 65 to maybe 67. turning down the gop proposal, dan pfieffer said, quote, it...
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for more on the fiscal cliff stalemate. let's bring in angela mcglowan, and dick, from the south carolina democratic party. look, i've got the questions prepared and i've got to ask the fundamental question most americans are requesting, what the heck is going on with the house and president obama. >> didn't we learn in 2011, where the government seemed less stable and our triple-a rating went down to a double-a rating and right now, john thune was right, it takes time to bush legislation through and we can't have a deal cut on christmas eve. >> is this brinksmanship on behalf of the president and time geithner, his treasury secretary, in terms of what the dems are now offering congress? >> no, i think the president has made a riegsal offer and of course, it's an opening offer, but that silence is deafening for the republicans, for the republicans' response. their political lemmings getting ready to go off the fiscal cliff and rather do that and not violate the no tax pledge they made to grover norquist than to move the bal
for more on the fiscal cliff stalemate. let's bring in angela mcglowan, and dick, from the south carolina democratic party. look, i've got the questions prepared and i've got to ask the fundamental question most americans are requesting, what the heck is going on with the house and president obama. >> didn't we learn in 2011, where the government seemed less stable and our triple-a rating went down to a double-a rating and right now, john thune was right, it takes time to bush legislation...
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cliff. >> fiscal cliff. >> we could go off this fiscal cliff. >> we are facing a fiscal grand canyon. >> reporter: it's a big deal, question is, can these guys strike a deal? >> i have to repeat, i have a pen. >> reporter: meantime, damage control for u.n. ambassador susan rice, how to smooth things over this week with republicans after those benghazi talking points. >> extremist elements came to the consulate as this was unfolding. >> reporter: the didn't work, now, their talking points. >> we are significantly troubled. >> i want to say that i'm more troubled today. >> reporter: democrats shot back. >> they're not only blaming her for this intelligence report, they're trying to blame her for the actual tragic event. >> i've seen so much crazy stuff in this house, i could write a bock. >> or make an internet video that's actor angus t. jones caught slamming his own tv show. >> if you watch "two and a half men" please stop watching "two and a half men." i'm on it and don't want to be on it. >> reporter: he apologized but may still get his wish. now, to just two men. these two men. in
cliff. >> fiscal cliff. >> we could go off this fiscal cliff. >> we are facing a fiscal grand canyon. >> reporter: it's a big deal, question is, can these guys strike a deal? >> i have to repeat, i have a pen. >> reporter: meantime, damage control for u.n. ambassador susan rice, how to smooth things over this week with republicans after those benghazi talking points. >> extremist elements came to the consulate as this was unfolding. >> reporter:...
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could plunge off the fiscal cliff. this morning at least one republican is saying it's looking more like that's going to happen. after the plan laid out by the white house. >>> and she helped care for more than 140 children whose parents are behind bars in nepal. now she's got a new title. cnn hero of the year. cnn hero of the year. "newsroom" starting now. -- captions by vitac -- www.vitac.com >>> good morning. thank you so much for joining me. i'm carol costello. concern this morning that a young woman's death will be overshadowed by fame. by now, even if you're not a football fan, you know the name jovan belcher. you know he killed the mother of his child and then committed suicide. but what do we know about his girlfriend? his partner? the mother of his child, kasandra perkins? according to the kansas city star perkins and belcher were madly in love but argued of late. the star added many people knew that belcher owned guns and enjoyed shooting but they'd never known him to be violent. not even close. nbc's bob cos
could plunge off the fiscal cliff. this morning at least one republican is saying it's looking more like that's going to happen. after the plan laid out by the white house. >>> and she helped care for more than 140 children whose parents are behind bars in nepal. now she's got a new title. cnn hero of the year. cnn hero of the year. "newsroom" starting now. -- captions by vitac -- www.vitac.com >>> good morning. thank you so much for joining me. i'm carol costello....
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fiscal cliff, 26 days away. christine romans explains how going over the cliff could affect you and your family. >> reporter: brooke, here's what the sequester could mean for domestic programs. fewer women and children with assistance and child care aid. cuts to education nearly 100,000 head start spots at risk. more than 25,000 teachers and teachers aids could lose their jobs and science and public research grants could be cut including in to cancer and childhood diseases. fewer americans could receive drug abuse treatment and $700 million slashed from the epa budget. cutting back of food inspection. disaster relief, omb says, quote, the federal emergency management administration's ability to respond would be undermined. and finally, from border patrol to hiring new fbi agents, correction officers, federal prosecutors, all could be scaled back. now, all of these cuts, brooke, don't happen exactly at 12:01 a.m. on january 2nd. they happen over the course of a year. but agencies are preparing for an impasse in w
fiscal cliff, 26 days away. christine romans explains how going over the cliff could affect you and your family. >> reporter: brooke, here's what the sequester could mean for domestic programs. fewer women and children with assistance and child care aid. cuts to education nearly 100,000 head start spots at risk. more than 25,000 teachers and teachers aids could lose their jobs and science and public research grants could be cut including in to cancer and childhood diseases. fewer...
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but another fiscal cliff was on the horizon, and that is the debt. but they also want to do, timothy geithner said, we are going to take away from congress approval of raising the debt ceiling. we can do it on our own. that is an outrage. congress has the power of the not this president to spend more money we don't have. megyn: even alan colmes was on the programs they shouldn't get congressional approval for that. but where is the republican proposal? they say that they want to close loopholes and get rid of some deductions, but when it comes to big issues, which is paring back spending, what are they proposing? over the weekend, mitch mcconnell, the senate minority leader, he offered a few nuggets and i would like to get your thoughts. he said increase the medicare eligibility age, ask wealthier americans to pay higher medicare premiums. and possibly paring back the cost of living increases, giving to social security beneficiaries. those are three specific so we have heard so far from the gop side. what are your thoughts on that? >> i think that is
but another fiscal cliff was on the horizon, and that is the debt. but they also want to do, timothy geithner said, we are going to take away from congress approval of raising the debt ceiling. we can do it on our own. that is an outrage. congress has the power of the not this president to spend more money we don't have. megyn: even alan colmes was on the programs they shouldn't get congressional approval for that. but where is the republican proposal? they say that they want to close loopholes...
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twenty-nine days until we fall off the fiscal cliff. timothy geithner says the ball is in the republican report to compromise. >> i cannot promise that. that is a decision that lies in the hands of the republicans. if they recognize the reality that we cannot afford to extend those tax rates, we have a basis of an agreement. stuart: how was that for an introduction. before we launch into your talking points, and i know you well, i want to mention this. the founder of cosco, as you know, he appeared at the democrat convention. big supporter of president obama. loves the tax the rich idea. he borrowed $3.5 billion imprisoned out to shareholders in the form of a special dividend this year. he walked with a check for $14 million. he pays and get $12 million cash. if the dividend was next year, he would have walked away with $8 million. by treating obama's tax the rich philosophy, this obama supporter got an extra $4 million. i say that is hypocrisy. will you join me in condemning the hypocrisy of the superrich? [ laughter ] >> stuart, it is
twenty-nine days until we fall off the fiscal cliff. timothy geithner says the ball is in the republican report to compromise. >> i cannot promise that. that is a decision that lies in the hands of the republicans. if they recognize the reality that we cannot afford to extend those tax rates, we have a basis of an agreement. stuart: how was that for an introduction. before we launch into your talking points, and i know you well, i want to mention this. the founder of cosco, as you know,...
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ben, what is your fiscal cliff strategy? what do you want to do with your money in the economy does go off the fiscal cliff? >> yeah, we were worried about that back in september, october. so even though we like the equity markets going into 2013, we wanted to hedge ourselves a little bit, so we took money out of equities. didn't just put it into cash. we put it into three areas we think are still good long term. one is we talk about emerging market equities, but i like emerging market debt. these monetary authorities are done tightening. they fought the inflationary problem that they had successfully. they're in hoed. yield curves could shift down. we stress doing it in local currency. the other areas are u.s. high yield, which i still think is valuable. we do think spreads will contract and emerging market equities as well. >> jordan, what about you? how are you preparing for what could be an eventuality where we go over the cliff and we've got to deal with higher taxes and a slower economy? a lot of people expecting reces
ben, what is your fiscal cliff strategy? what do you want to do with your money in the economy does go off the fiscal cliff? >> yeah, we were worried about that back in september, october. so even though we like the equity markets going into 2013, we wanted to hedge ourselves a little bit, so we took money out of equities. didn't just put it into cash. we put it into three areas we think are still good long term. one is we talk about emerging market equities, but i like emerging market...
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they are nowhere near a deal to avoid the so-called fiscal cliff. peter doocy is life in washington with more. >> republicans have had their proposal to avoid the fiscal cliff complete with 800 billion of new revenue over a decade on the table for more than a day now. it has yet to be publicly embraced by the slightest bit by any prominent democrats. because of that gop lawmakers are saying that means the white house wants to go over the fiscal cliff to make it a point. >> howard dean said it patti murray who ran the senator ideal committee. i think the presidency is a political victory for his party as they go over the cliff. i know republicans are concerned there is going to be a secondary session. >> the white house proposal raises taxes 1.6 trillion over a decade. republicans close loopholes and get rid of deductions. they say the mast won't work. >>> it is still out of balance. it is 800 million worth of revenues. he said he is going to do that by lowering rates. when you look at the map it doesn't work. >> the house majority with kevin mccarth
they are nowhere near a deal to avoid the so-called fiscal cliff. peter doocy is life in washington with more. >> republicans have had their proposal to avoid the fiscal cliff complete with 800 billion of new revenue over a decade on the table for more than a day now. it has yet to be publicly embraced by the slightest bit by any prominent democrats. because of that gop lawmakers are saying that means the white house wants to go over the fiscal cliff to make it a point. >> howard...
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we have the fiscal cliff negotiations going on on capitol hill. for young republicans right now, as you listen to what both sides are saying in this debate, where do young republicans fall on raising taxes for the wealthiest to help pay down the debt? >> sure. thank you for having us on today, of course. but i think it's just important that as a party, our candidates are making sure that our voices are modernizing, not necessarily moderating. we don't necessarily have to fundamentally change who we are as a party and who we are as republicans. we have to make sure that our voices on taxes, on spending on the economy, are heard loud and clear. just as meghan said, the economic issues are driving many young voters indeed. so where we stand on taxes is that they should be low, but most importantly, in regards to college students and younger voters, we need to make sure that when we graduate college, that we're put to that a job environment that we're able to live productively, that we're not burdened by higher taxes, that we're not burdened by the di
we have the fiscal cliff negotiations going on on capitol hill. for young republicans right now, as you listen to what both sides are saying in this debate, where do young republicans fall on raising taxes for the wealthiest to help pay down the debt? >> sure. thank you for having us on today, of course. but i think it's just important that as a party, our candidates are making sure that our voices are modernizing, not necessarily moderating. we don't necessarily have to fundamentally...
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wouldn't that bring an end to the fiscal cliff? we could wrap it up now and everybody could go on vacation? >> yes, but you're asking the wrong guy. i'm not in congress. >> but you're on set, will. come on, suck it up! >> i'm going to answer. i'm always happy to talk if you're going to put the camera on me. i can see reality in front of me and see that republicans have very little leverage to decide or impose their will on this outcome. that being said, what they're looking at is how can we kind of salvage a political victory out of this and stand for what we want? as you've had people on this program suggest, it may just be going over the fiscal cliff and not voting for a tax raise and then later negotiating taxes down. >> republicans will be blamed, polls show, if we go over the cliff. >> let's turn to jeb henserling, newly named chairman of the house committee and co-chair on the super committee. we heard will saying how do you salvage a political victory? the reality is if nothing is done, if you cannot get together, you go ove
wouldn't that bring an end to the fiscal cliff? we could wrap it up now and everybody could go on vacation? >> yes, but you're asking the wrong guy. i'm not in congress. >> but you're on set, will. come on, suck it up! >> i'm going to answer. i'm always happy to talk if you're going to put the camera on me. i can see reality in front of me and see that republicans have very little leverage to decide or impose their will on this outcome. that being said, what they're looking at...
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we do not want to go off the fiscal cliff. martha: the white house is saying, obviously, they will not do any deal that does not include what was one of their number one campaign motivations and slogans, and that was that taxes must go up. the tax rate must go up on the rich. so what are you going to do with that? >> look, the president said he wanted revenues, we provided revenues -- martha: he's saying tax rates must go up, and are you saying there is no way still that that will happen, not even the slightest bit? >> new taxes are coming out with obamacare. we're continuing to tax individuals. we're harming our growth. can we get the revenue the president asks? yes, we can, with protecting the growth in the economy x. that's what we provided to the president. the president continues to change the goalpost along this process. we think what has to happen here now that if we agreed to revenue, let's talk about the balanced approach and the two and a half times the spending cuts. the president won't talk about that. in geithner'
we do not want to go off the fiscal cliff. martha: the white house is saying, obviously, they will not do any deal that does not include what was one of their number one campaign motivations and slogans, and that was that taxes must go up. the tax rate must go up on the rich. so what are you going to do with that? >> look, the president said he wanted revenues, we provided revenues -- martha: he's saying tax rates must go up, and are you saying there is no way still that that will happen,...
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as we come to the end of this fiscal cliff, republicans have to choose. do they call for $5 trillion in tax increases over the next ten years or are they going to allow the middle class tax cuts to proceed? that's their choice, and i think people like tom cole recognize that it's unsustainable to take the position that nobody gets tax relief because they hold out for folks with 250,000 and over to get this extra tax cut on the portion of their income above 250,000. after all, what the president is saying on that part of your income above 250,000, you're going back to the clinton era tax raites, which is 4 cents on the dollar. >> congressman van hollen, thank you for your time. we'll see what happens next. thank you, sir. >>> we could soon learn who the president wants to be the next secretary of state. chuck todd says a decision could come this week, but as we get closer to a decision, the partisan divide over the potential nomination of susan rice, considered the front-runner, seems to be intensifying. >> when it comes to susan rice as far as lindsey gra
as we come to the end of this fiscal cliff, republicans have to choose. do they call for $5 trillion in tax increases over the next ten years or are they going to allow the middle class tax cuts to proceed? that's their choice, and i think people like tom cole recognize that it's unsustainable to take the position that nobody gets tax relief because they hold out for folks with 250,000 and over to get this extra tax cut on the portion of their income above 250,000. after all, what the president...
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here's abc's tahman bradley. >> reporter: fiscal cliff talks have hit a stalemate. with only 29 days to go, republicans and democrats remain far apart. and over the weekend, there was worry negotiations may actually fail. >> i think we're going over the cliff. it's clear to me they made a political calculation. before president obama and his team are demanding that they allow bush era tax cuts for the wealthiest 2% of americans expire. >> there's no way we can govern this country with those low rates in place for future generations. those rates have to go up. >> reporter: but republicans have drawn a line in the sand in raising tax rates. instead, signaling they're open to raising revenue by limiting the tax code. it's a major sticking point. holding up a deal. >> right now, i'd say we're nowhere. >> reporter: president obama is looking for $1.6 trillion in new tax revenue over ten years. speaker boehner is offering half of that. there's $600 billion. the speaker says that's not enough. although he hasn't outlined what he thinks should be cut. if they can't avoid th
here's abc's tahman bradley. >> reporter: fiscal cliff talks have hit a stalemate. with only 29 days to go, republicans and democrats remain far apart. and over the weekend, there was worry negotiations may actually fail. >> i think we're going over the cliff. it's clear to me they made a political calculation. before president obama and his team are demanding that they allow bush era tax cuts for the wealthiest 2% of americans expire. >> there's no way we can govern this...
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i'm not sure that this fiscal cliff really is a fiscal cliff. i think that it changes the baseline. republicans get better negotiating position on the other side when they are not scared to death of their own shadow and fearful of not looking reasonable. to think that the same joker who is got us this compromise will somehow get us a better compromise is absolutely silly. some of these guys have been voted out by the american public. maybe we should wait until the new people who have been through this before and just through the campaign, when they come in and change, i just have a hard time believing this congress, the one that got us into the mess we are dealing with, will somehow field a way to get out of it. >> i understand what you're saying about waiting for the new people to come in, but many of the new people coming in and many of the old people still there are not economists, they are not experts on the economy. they are not experts on the fiscal cliff. if you speak to those who know, they will tell you it is a bad thing to go over that cliff. and still you're saying maybe
i'm not sure that this fiscal cliff really is a fiscal cliff. i think that it changes the baseline. republicans get better negotiating position on the other side when they are not scared to death of their own shadow and fearful of not looking reasonable. to think that the same joker who is got us this compromise will somehow get us a better compromise is absolutely silly. some of these guys have been voted out by the american public. maybe we should wait until the new people who have been...
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and, diane, the official deadline for the fiscal cliff is december 31st at midnight when the ball drops in times square, but there's actually another deadline. the house of representatives is scheduled to go on winter break a week from friday, so really there are only 11 days to work out a plan as of now, diane. >> talk about the clock ticking down. thanks so much, jake. >>> and, of course, the president also spoke out today about the lethal stockpile of chemical weapons in the hands of the brutal regime in syria. chemicals so deadly, one drop can kill within minutes. abc's senior foreign affairs correspondent martha raddatz on these weapons and whether it means the u.s. may be forced to take action. >> reporter: the latest intelligence is alarming. officials telling abc news the u.s. is now seeing specific signs that the syrian regime may be preparing to use the chemical sarin against opposition forces. sarin is an extremely toxic substance that can kill a person in a matter of minutes with only one drop. the victims suffocated from the paralyzing effects of the toxin. this new intelli
and, diane, the official deadline for the fiscal cliff is december 31st at midnight when the ball drops in times square, but there's actually another deadline. the house of representatives is scheduled to go on winter break a week from friday, so really there are only 11 days to work out a plan as of now, diane. >> talk about the clock ticking down. thanks so much, jake. >>> and, of course, the president also spoke out today about the lethal stockpile of chemical weapons in the...
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cliff. house and senate republicans are dumbfounded over the latest proposal from keeping the nation from going over the fiscal cliff. the administration's plan includes 1.6 trillion in tax increases over the next 10 years. and over $600 billion in spending cuts and it is gop -- >> what is that? >> known, gt-o-p says even the cuts are offset by new spending proposals. lyndsay graham called it a joke. and when john baner asked what his initial reaction was, the house speaker was so angry he dropped an f-bomb. >> i was flabbergasted. for more on obama's plan let's go to dj mcpaw-paw mcwhiskers. >> that was amazing. he can really spin. you pay $35 to get him to show up. dan, when was the last time you were flabbergasted? isn't it hard to be flabbergasted? >> every time i read the business section. up and down i have so many stocks and stuff. >> say mutual funds. >> mutual funds and numbers. numbers. >> let me ask you, terry, is obama overreaching here? there is no reason to over reach here. exc
cliff. house and senate republicans are dumbfounded over the latest proposal from keeping the nation from going over the fiscal cliff. the administration's plan includes 1.6 trillion in tax increases over the next 10 years. and over $600 billion in spending cuts and it is gop -- >> what is that? >> known, gt-o-p says even the cuts are offset by new spending proposals. lyndsay graham called it a joke. and when john baner asked what his initial reaction was, the house speaker was so...
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more now on the fiscal cliff. one of the industries with the most at stake in the budget debate is the defense industry. in a meeting today in washington, northrop grumman ceo wes bush with a dire warning. >> it would result in across the board cuts to both defense and nondefense accounts. and the interesting thing about this is the cuts are not tied to any military strategy whatsoever. it is completely disconnected from a perspective of strategy. in essence these would be meat axe taken to our national defense budgets. >> let's go straight to the front lines of the issue. task specializes in systems, engineering and integrate. president and ceo david langstaff is with us, among the defense contractors speaking out today in washington. he joins me now on the telephone. sir, good to have on you the program. thanks for joining us. >> thank you. glad to be with you. >> what's the potential fallout for task if we go over the fiscal cliff. how would you navigate this? >> first, it's just terrible policy to go over the
more now on the fiscal cliff. one of the industries with the most at stake in the budget debate is the defense industry. in a meeting today in washington, northrop grumman ceo wes bush with a dire warning. >> it would result in across the board cuts to both defense and nondefense accounts. and the interesting thing about this is the cuts are not tied to any military strategy whatsoever. it is completely disconnected from a perspective of strategy. in essence these would be meat axe taken...
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oh, the fiscal cliff. i was wondering what makes love last and under your nose it must be a scent. >> or maybe it is a moustachah. what was it a tree falling again. >> brian: you want to hear it again. >> steve: yeah. >> gretchen: it sounds like a horror movie like something up in the attic. >> steve: it is breaking. cliffhanger. i don't know. if the economy falls in the forest and no one is here to hear it is there a sound. yesterday the republicans blame the democrats and the democrats blame the republicans. john had a exclusive with chris wallace. >> brian: chris wallace sat down with jone boehner. >> steve: here is mr. boehner describing the impression at the moment of what tim geithner was trying to sell him. >> i was ghasted and i looked at him and said you can't be serious. i never seen like it we have 7 weeks before election day andepped of the year. three of those weeks are wasted with this nonsense. >> y are talking about roughly. timothy depite gite saying we'll raise taxes 1.6 trillion and wash
oh, the fiscal cliff. i was wondering what makes love last and under your nose it must be a scent. >> or maybe it is a moustachah. what was it a tree falling again. >> brian: you want to hear it again. >> steve: yeah. >> gretchen: it sounds like a horror movie like something up in the attic. >> steve: it is breaking. cliffhanger. i don't know. if the economy falls in the forest and no one is here to hear it is there a sound. yesterday the republicans blame the...
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it is a republican compromise solution to the impending fiscal cliff. spending cut and tax increases that both sides mean would mean recession. after what both sides called a frustrating weekend. today's development don't appear to break a log jam. not yet. ed henry begins our coverage. >> reporter: good evening. they are saying the plan is ridiculous, so much so they will not offer counterproposal to the g.o.p. counterproposal and say tonight unless speaker boehner gives in on raising taxes on the rich, the president is ready to go off the cliff. >> right now i'd say we are nowhere, period. nowhere. >> john boehner declaring a stalemate in an exclusive with fox, as republicans teed off on president obama first offer that included new spending plus 1.6 trillion in tax hikes. totally unacceptable. >> i think we are going over the cliff. it's clear to me they made political calculation. white house officials insisted disaster could be amended and demanded a counter offer on the table. >> what we hope for is specificity from the republicans. >> an hour lat
it is a republican compromise solution to the impending fiscal cliff. spending cut and tax increases that both sides mean would mean recession. after what both sides called a frustrating weekend. today's development don't appear to break a log jam. not yet. ed henry begins our coverage. >> reporter: good evening. they are saying the plan is ridiculous, so much so they will not offer counterproposal to the g.o.p. counterproposal and say tonight unless speaker boehner gives in on raising...
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bill: hen we have the fiscal cliff. before we go over that cliff we'll pull you back later in the week. martha: there is a potentially dangerous situation taking shape on the west coast. no relief in site as a strong storm has pounded that region. tens of thousands of people are in the dark. we are in the fox extreme weather center with the latest on that pressing situation next. bill: a 95-year-old man left homeless by hurricane sandy but no more. this story will warm your heart just in time for the holiday season. >> he didn't know me from adam and look. see what he did? he's wonderful. [ female announcer ] the humana walmart-preferred rx plan p-d-p gives you a low $18.50 monthly plan premium... and select generic hypertension drugs available for only a penny... so you can focus on what really matters. call humana at 1-800-808-4003. so you can focus on what really matters. music: "make someone happy" music: "make someone happy" ♪it's so important to make meone happy.♪.♪it's so e ♪make just one heart to heart y
bill: hen we have the fiscal cliff. before we go over that cliff we'll pull you back later in the week. martha: there is a potentially dangerous situation taking shape on the west coast. no relief in site as a strong storm has pounded that region. tens of thousands of people are in the dark. we are in the fox extreme weather center with the latest on that pressing situation next. bill: a 95-year-old man left homeless by hurricane sandy but no more. this story will warm your heart just in time...
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. >> i'm worried about the fiscal cliff in the same way i'm worried about martians. >> fiscal cliff. >> fiscal whatever it is. >> is this a rerun? >> still no progress as all sides jockey for position. >> i would say we're nowhere. >> speaker john boehner issued a downer offer yesterday. >> the white house quickly dismissed it. >> the speaker's proposal is out of balance. >> it is more of the same. >> it is not me being positive. it is the math. >> magic math. >> magic beans and fairy dust. >> president obama did win the election. >> me thinks somebody made him king. >> no. i don't think that's right. >> he doesn't see where he stands in the universe. >> i would say we're nowhere. >> are we that far apart? >> both sides want a deal. >> a matter of math. >> try to stay away from hypotheticals. >> it won't pass. >> discussions about unicorns. >> unicorns. >> they're imaginary beasts. >> magic beans. >> magic math. >> an enchanted universe. >> outrageous. >> the whole thing is going wacky. >> i would say we're nowhere. >> i don't envy the position the speaker is in. >> we're nowhere. ?
. >> i'm worried about the fiscal cliff in the same way i'm worried about martians. >> fiscal cliff. >> fiscal whatever it is. >> is this a rerun? >> still no progress as all sides jockey for position. >> i would say we're nowhere. >> speaker john boehner issued a downer offer yesterday. >> the white house quickly dismissed it. >> the speaker's proposal is out of balance. >> it is more of the same. >> it is not me being positive....
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. >>> the fiscal cliff, less than a month away. if democrats and republicans don't reach an agreement, everybody's taxes will go up january 1st, and as emily schmidt reports, there's been a lot of talking on the sunday talk shows but not at the negotiating table. >> reporter: it's been 16 days since president obama and congressional leaders met to talk about how to avoid the fiscal cliff. the automatic spending cuts and tack increases that begin to kick in if there's no agreement by january 1st. 16 days to get here. >> i think we're far apart still, but i think we're moving closer together. >> i would say we're nowhere, period. we're nowhere. >> reporter: thursday treasury secretary timothy geithner proposed president obama's plan which included $1.6 trillion in tax revenue coming largely from an expiration of bush era tax cuts for families who make more than $250,000 a year. geithner says that's a must. >> there's not going to be an agreement without rates going up. >> reporter: the administration's plan also included $50 billion
. >>> the fiscal cliff, less than a month away. if democrats and republicans don't reach an agreement, everybody's taxes will go up january 1st, and as emily schmidt reports, there's been a lot of talking on the sunday talk shows but not at the negotiating table. >> reporter: it's been 16 days since president obama and congressional leaders met to talk about how to avoid the fiscal cliff. the automatic spending cuts and tack increases that begin to kick in if there's no agreement...
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fiscal cliff, amazement and dismay. i've heard it again and again. >> toes are the two words i focused on, amazement and dismay, and my question comes is he making any changes for fedex? >> companies need clarity. and even in the third quarter gdp report you can see that companies holding back on computer purchases, on equipment purchases, because they don't know what's going to happen next year. if there's going to be a recession or not. can i tell you, not to know whether you're going to have a recession is such an uncertainty for your families. christmas spending. how do you do holiday spending if you don't know what kind of tax refund you're going to get? congress is in a sticky spot here. the mood was pretty grim in washington yesterday when i was there for that interview. a lot of folks were saying they're not making plans for the holidays. washington insiders. because they think that they're going to be doing this down to the very last minute. >> i know you were dismayed saying that typically behind the scenes, a
fiscal cliff, amazement and dismay. i've heard it again and again. >> toes are the two words i focused on, amazement and dismay, and my question comes is he making any changes for fedex? >> companies need clarity. and even in the third quarter gdp report you can see that companies holding back on computer purchases, on equipment purchases, because they don't know what's going to happen next year. if there's going to be a recession or not. can i tell you, not to know whether you're...
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if we got the fiscal cliff. gerri: withhe dense cuts come if we do over the cliff, it will cost $100 million or over that? >> 137 million. gerri: would this put you into the red? >> it certainly could. we are still looking at obama's health care plan and what it will do to the sta budget. the federal strings are tied. i asked the president about this. the federal funds that come down to the state as you may cuts -- we can still have the strength attached to it. it doesn't give leeway to meet your unique circumstances in our state. we are all different. different budgets,ifferent employment rates, different constitutions, different laws. different styles of living and means within our budget. give us some flexibility. gerri: i expect you to be a little bit more upbeat about the fiscal cliff, but i have to tell you, you sound like a lot of people in washington today. concerns over whether these leaders can get together and find common ground and resolve this issue. it would be meaningful to stay like yours. govern
if we got the fiscal cliff. gerri: withhe dense cuts come if we do over the cliff, it will cost $100 million or over that? >> 137 million. gerri: would this put you into the red? >> it certainly could. we are still looking at obama's health care plan and what it will do to the sta budget. the federal strings are tied. i asked the president about this. the federal funds that come down to the state as you may cuts -- we can still have the strength attached to it. it doesn't give...
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well, the fiscal cliff now. republicans are proposing a brand new plan to prevent the so-called falling off of that cliff. the automatic tax hikes and spending cuts that are set to kick in on the first of the year. the proposal counters one from the white house which republics deemed a joke. the g.o.p. plan would at least for now extend the bush era tax cuts including those cuts for the wealthiest americans it proposes raising $800 billion from tax reform over the course of the decade. and includes more than a trillion dollars in spending cuts. but monday none of them he really detailed. in addition the plan called for changes to the so-called entitlement programs, increasing the eligibility age for medicare and lowering the annual cost of living hikes for social security hikes. flu our -- put theirs on the table and dared republicans to do the same. >> they have done that tonight. the officials saying that the counter offer is ridiculous. they are hammering the fact that there is not enough in terms of tax reve
well, the fiscal cliff now. republicans are proposing a brand new plan to prevent the so-called falling off of that cliff. the automatic tax hikes and spending cuts that are set to kick in on the first of the year. the proposal counters one from the white house which republics deemed a joke. the g.o.p. plan would at least for now extend the bush era tax cuts including those cuts for the wealthiest americans it proposes raising $800 billion from tax reform over the course of the decade. and...
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take a look. >> what is the fiscal cliff? >> we're from new mexico out here to clean up. >> no idea. >> the cliff? how tall is it? >> i have no idea. >> where is it? >> can i google it? >> bad news. it's bad news. fiscal cliff. >>> end of the world, apparently, right. >> if you wanted to take one of these cliff bars, if you wanted to take one that tasted like the fiscal cliff. >> which one would you choose and why? the one that tastes like crap. >> we're all going to fall off the face of the earth. >> they need to fix it. that's what they're paid for. >> what happens if they don't? >> we're going to lose some money. >> it reminds me of something i learned in school, i'm going to guess some like of cliff, avalanche. >> how tall is it? >> i'd say at least like 370 some feet. >> i don't know. it sounds like something disgusting to eat or something. >> you heard of it? >> it's part of our economy going choooooooo. >> i'm pretty sure we don't have a fiscal cliff. >> we fell off of it. >> yes, we did. >> is it a dangerous cliff? >>
take a look. >> what is the fiscal cliff? >> we're from new mexico out here to clean up. >> no idea. >> the cliff? how tall is it? >> i have no idea. >> where is it? >> can i google it? >> bad news. it's bad news. fiscal cliff. >>> end of the world, apparently, right. >> if you wanted to take one of these cliff bars, if you wanted to take one that tasted like the fiscal cliff. >> which one would you choose and why? the one...
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will america fall over the fiscal cliff? grover norquist, possible public enemy number one to the public, takes on robert reish after the break. time to deploy the boring-popcorn decoy bucket. then no one will want to steal the deliciousness. with a variety of tastes and textures only chex mix is a bag of interesting. you can stay in and share something... ♪ ♪ ...or you can get out there with your friends and actually share something. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. offering some of our best values of the year. it's hard to see opportunity in today's challenging environment. unless you have the right perspective. bny mellon wealth management has the vision and experience to look beyond the obvious. we'll uncover opportunities, find hidden risk, and make success a reality. bny mellon wealth management alriwoah! did you get that? and...flip! yep, look at this. it takes like 20 pictures at a time. i never miss anything. is
will america fall over the fiscal cliff? grover norquist, possible public enemy number one to the public, takes on robert reish after the break. time to deploy the boring-popcorn decoy bucket. then no one will want to steal the deliciousness. with a variety of tastes and textures only chex mix is a bag of interesting. you can stay in and share something... ♪ ♪ ...or you can get out there with your friends and actually share something. ♪ the lexus december to remember sales event is on,...